look. i'm not happy about seep russ. it's negative. what i need is higher rate, i need to see that storm blow over. there's always a bull market somewhere. i'm jim cramer. see you tomorrow! the tiny island of cyprus sets off big scare with plans to set off the rule of law. they want to tax all bank depositors large and small to pay for a bailout. this has never happened before.e are in trouble.

if nothing happens, optimism runs the show. cyprus is the money ground for dirty money from russia and other rogue nations. the government of cyprus is scared to death of insulting vladimir putin. we'll have an expert who will play this scenario out for us. "the kudlow report" begins right now. first up, let's get the latest on the cyprus report. michelle joins us by phone. >> good evening. the details are changing, but the one core fact important to investors is true. for the first time ever in the european crisis, portions of bank accounts will be seized in order to pay for a bailout. cyprus agreed to this to get a

10 billion euro loan to bail out their banks. what is still unclear and controversial is whether insured deposits will also be seized. original plan was if you had an account in cyprus with less than 100,000 euros, would you have to pay a tax even though it falls below the insurance threshold. even though in theory it was supposed to be 100% guaranteed by the state. that turned out to be so controversial they are second-guessing themselves and reconsidering. a few hours ago the minister put out a statement saying they thought the smaller depositors should be protected. that doesn't mean they will, however, because cyprus has to figure out some way to contribute to this bailout. they would have to tax the biggest depositors, the russians even more than the 10%. they are worried about doing that. in the meantime, we are waiting to see whether cyprus banks will ever open this week. the cyprus parliament has to

vote on whatever deal they come up with. it's unclear they'll get it passed. here is what investors are worried about. if now you are worried about whether or not your insured deposits could be taken by the government in a bailout, are you going to take your money on weak banks? could it lead to runs on banks? we didn't see lines in italy and spain today, but people are worried about that. >> that is a great update. if they take the new advice from the imf and only tax deet positive why its of 100,000 euros or more, that comes to about a 20% tax. that is going to make vladimir putin more angry. that is going to make all those russian dirty money launderers in deeper trouble. i see that as a key factor. >> that's the reason they haven't done it, larry. i am told by more than one source the president of cyprus does not want to tax them more than 9.9%.

he didn't want a double-digit number. it's no different pricing something at 99 cents versus $1. >> have a safe trip. >> thank you. my quick take, i hope michelle is right and small deposters won't be taxed. the whole story, nothing but government confiscation of private property. it's breaking the law and crossing the rubicon of something never done before. how do we know depositors won't keep pulling their money out of the banks when they finally open? the ecb are forcing another country to give up their freedom. to give up any chance of economic growth to get out of this mess. let's go to former treasury assistant secretary, department and chairman of the americas partner group. charles, thank you for helping us. i wish the circumstances were better. it sounds like confiscation to me. these are deposits that were

insured, guaranteed, the government is going to take it. why would the imf and others suggest they do it? what's behind this? >> larry, i think what's behind this is a continued fixation, which you see coming out of the imf and out of brussels and berlin. about trying to realize sustainable levels of debt-to-gdp over a period of time. i appreciate the need to try to get debt on a sustainable level, this is not the way to do it. this is, indeed, confiscation. i'm afraid they have crossed a line here they may regret. deposter insurance protection is one of the building blocks of confidence in our banking today in the 21st century.

overriding that and depriving those small depositors of their fundamental savings could subject a new round of contagion into the euro sovereign debt euro. >> you were so deeply involved in the bond negotiations regarding greece and elsewhere since you agreed we crossed a line, what are the chances this could happen to spain? what are the chances this could happen to italy? what are the chances could it happen elsewhere? >> i think the chances are quite low. if i may rephrase the question. what are the chances that if we do see some renewed periods of instability the depositors become anxious and start withdrawing their funds from bajs, not with standing the fact

this kind of measure may never be taken in these countries. three to four years into the european sovereign debt crisis. considerable progress has been made by tax payers in the north and citizens in the south. here we are putting that progress at risk over 5 to 6 billion euro? is that a sensible way to approach this or is it a penny wise and found foolish? >> why take the money out? if there is a run or next round of run on the banks in cyprus, what about the performs in europe? i go back to spain and italy. >> these countries are making some real progress. i seriously doubt we'll ever get to a point where action that has been taken or is being pursued today in cyprus would be pursued

in italy or spain. the fact of the matter is that small savers are being told a significant part, over 6% of their deposits are going to be wiped out. i think the depositors around the other countries will raise their eyebrows, become concerned and may decide they are going to take an under the mattress approach to their deposits. this is not a way to strengthen the banking system. europe has developed some plans to develop -- let me just say, europe developed plans to develop a euro zone wide deposit insurance scheme. this is a step in the opposite direction. i think it raises fundamental issues about the rights of depositors. >> that's right. if that hypothetical run occurs, just hypothetical run, who is going to stand behind? will the greek central bank stand behind the cyprus banks? what is there three or four major banks?

will they supply the cash necessary to avert a calamity? >> no. it would need to be the aaron central bank, larry. it would not be the greek central bank. certainly the greek banking system are intertwined. when we did this huge debt restructuring on the greek sovereign debt, the cyprian banks were hurt as the greek banks substantially. at this point it would be up to the ecb to step in. i would strongly encourage the authorities in europe. >> will they? that is a key point? >> i think they may have to. the structure of their support remains unclear. i think -- let's face it. cyprus is a small economy. the smallest thread can unravel the entire tapestry of the euro zone. the size of cyprus is not the

point here. the point is the principle, precedent and risk of contagion spiralling out of control. >> that's how we see it here. thank you, charles dallara. now it's time to ask the money question. will cyprus and the eu woes kill our economic optimism? we'll debate that next up. the real loser could be crooked russian billionaires whose money-laundering operations in cyprus run the country. that's why vladimir putin is so angry about this bank tax. feel like capitalism may be the best bet to prosperity, but there is not one ounce of free market capitalism in this cyprus story. i'm larry kudlow. we'll be right back. [ female announcer ] what if the next big thing, isn't a thing at all?

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so next part so next part of this story. why should a u.s. investor really care about cyprus? a tiny little island. maybe this is an excuse for a mild stock correction. will cyprus silent the bulls or will the optimistic rally continue as i believe it will? we have bob dole. we welcome back joe lavorgna and

cnbc contributor larry mcdonald, head of global strategy at new edge. bob, i home you heard the charles dallara interview. he was more concerned about the consequences of this than i might have thought. concerned about a next run on the bank. concerned the greek central bank can't bail out cyprus or the ecb may not have a mandate. what is your thinking about this? >> that was a great segment. confiscation and confidence were the two key words. we know we have the possibility my 100 cents are not 100 any more that. undermines confidence and risk assets need confidence to improve. that's the sticking point we had carnage in europe, in asia. the u.s. was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the

dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european banks, they got hurt. they were down 3.5% to 4%. american banks were not. bank index was down less than 1%. i want to ask you though. given what dallara said, how do you assess the risk of this whole story? it seems small. a nothing little island. how do you see it? >> the last four years have been dedicated looking at risks globally. in my book i talk about the destruction lehman cauause overseas. now it's the reverse. the last three years we had elevator shaft drops in the u.s. stock market. at the end of the first quarter, beginning of the second quarter, 16%, 20% and 10%. each time there was credit spread contagion from europe.

a sovereign problem that led to a bank problem. then that weakness led to u.s. credit spreads widening. >> i didn't see much today. the bond rates were very low. >> overall there has been credit spread contagion over there the last few weeks. it raised a little bit, but has not spread to the u.s. that's why the u.s. markets held up so well today. >> there is economic torque behind the u.s. market. even an optimist like myself must acknowledge if this gets out of control and the european central bank has to do what they have to do we might have a problem, good economy or not. >> we might have a problem. charles' interview was very interesting. he did down play the contagion aspects as did i. the euro group did extend payments to portugal and island. to ring fence what they did for

cyprus. as cooler heads prevail as we move through the week, my guess is we'll treat this more as an isolated event. the yields in spain and italy are very low. they didn't move much. >> seven or eight basis points today. >> joe, while charles rated the contagion effect as low, he said later in response to my question, whenever these banks reopen -- and he himself said this, why shouldn't you have another run on the bank? why believe anything the government said? they threatened to confiscate 6% or 7%? why not if you do have a run on the banks, there are three major banks in cyprus, will the ecb come in with the ultimate liquidity bailout safety net? that becomes the key question. >> the answer is i don't know. i think this obviously is a political issue. the banks are still closed.

i think what we are failing to realize is that the ecb has their omt, their open market transaction program in place from last summer as the backstop. their version of qe. if we could isolate cyprus for a moment, i don't think we have to worry about these bank runs across europe. that's what you would be concerned about. that's not the issue. coming back to the u.s., the u.s. is in reasonably good shape. i do treat this move today really as a small move, an excuse for the market to take a pause and for us to move on. >> a lot of great news, no question about that. all the economic data beating the street and profits been rising. that's why we are optimists. let me come back to this. there are a lot of analysts who think the european central bank is too tight. they should lower interest rates more. the germans are hanging over them and with that there is deflation and recession is the

specter of the economy in europe. >> hard to disagree with that. look at nominal growth in europe. it's not far from zero. as a result, we do need more help from that central bank. they're in a lot better shape today than they were a couple of years ago. they still have to make further moves. i think they will take more pages out of the fed's book and lower rates as we get down the line for all the reasons you just mentioned. >> come back to you and finish this up. i am a stock market optimist because i like what i'm seeing in the u.s. people are saying to me that europe is the threatening like japan, the deflation of japan. they call it the decentralization of japan. this is no time for the ecb to be tight money right now. >> what bothers me is this moral hazard. joe made a good point about the omt. i think joe is a little wrong -- >> that's the bond buying.

>> the problem is the sovereignty that spain and italy have to give up, which they haven't, is enormous. in theory you have this bazuka behind the scenes. >> do you think -- we've got to get out, but do you think it's conceivable in spain and italy they could confiscate and insurance deposits the way they wanted to in cyprus? if they pull that off the entire couldn continent's finances would unravel. >> what we saw in the united states in 2008 and in the '30s, when you do this in cyprus, people around europe are going to pull their money out and put the money in banks that are actually stronger. >> wherever the hell they may be. i don't know. i'll tell you this.

the imf should have its head examined for even considering this kind of confiscation of guaranteed deposits. that is one of the problems. larry mcdonald, thank you. appreciate joe lavorgna and bob doll. we have the latest on the next restrictive plan bloomy wants to launch on the city. acceler-rental. at a hertz expressrent kiosk,

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goldman sachs gets shot down by the supreme court. goldman sachs gets shot down by the supreme court. cnbc has that story and more. >> good evening, larry. the u.s. supreme court refusing to hear an appeal from goldman sachs as the bank tries to thwart a lawsuit. a new york-based court last year ruled the investors could sue even though they didn't invest in a lot of these securities. the supreme court upholding that ruling. goldman stock down $3 a share today. one of the most infamous heart heists may have been solved. they think they know who sold 13 priceless works of arts from boston. that was march 18, 1991, 23 years ago to the day. the fbi is not naming the culprits.

offeri offeri offeri offering liency in the art is returned. mayor bloomberg is saying he wants cigarettes to be hidden out of sight. playing our sad violin wall of greats behind the wall. >> it includes cigars and other tobacco products. what is that chewing tobacco or whatever? why should cigars be banished the way cigarettes are? >> mayor bloomberg might not have anything to do. the soda ban is done. the court system is not clogged up enough. i have no idea why he is doing this. >> do you know bloomberg? >> i think he's fantastic. we tease our mayors. >> call him the nanny.

>> let's be serious. mayor bloomberg has done more for public health of new yorkers than most mayors could dream of. >> are you sure of that? >> he got smoking out of restaurants and bars, a guy at the very end of his very last term ever. >> exactly. >> trying to get a few more things through if this is how he feels about it. >> that's the bigger point. he needs to are relevant. let's get more newspapers going. >> this is a deadly product being marketed overtly throughout the city. >> a cigar? >> nobody is taking away your cigars. >> i think cigars to cigarettes on that wall is pretty slim. i'm not sure a lot of these teens are buying cigars. >> that is a good point. he does exempt smoking shops where you can go into the cigar store and have your cigar. he exempts that. that takes the sting out of it. >> it does. i don't go to those stores often. >> i'm going to get kayla a nice

temple hall. maybe i'll get you something from cuba. >> it will sit on my desk forever. >> thank you. republicans are publically admitting they have a problem. whoopi. they need a new way to reach minorities and younger voters. what is the gop message? stay with us. retty conservative. very logical thinker. (laughs) i'm telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. (screams) i'm really glad that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours.

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welcome welcome back to "the kudlow repo report." i'm larry kudlow. why is the russian government so mad about the cyprus plan to tax accounts in cyprus? they are such money lauderers. many elizabeth warren threw out the rate of $22 an hour for minimum wage. i think she is nuts. first up, still licking their wounds from the november election, the republican national committee is out with a new report that outlines steps needed to reboot the party for 2016. among the proposed reforms, a

streamlined process for earlier convention. improved outreach to women and young and minority voters. will the reforms be enough to give the gop brand a much-needed boost? joining us is mark stevens, ceo of msco and author of "your marketing sucks." with me the rest of the hour and i thought i introduced before, but i didn't, mark hanna and republican strategist chip saltsman. mark, what did this republican document do for the gop? >> it does nothing. it is a committee report adding to a pollution of noise that is going on in the republican party right now. the fact is as a marketing person, you cannot have a brand, talking about branding, you can't have a brand without a product. >> is the product the message? >> the product is the person. we don't have a person. you can't brand nothing. you say we come with a brand,

what is it? gum, software? >> they said governors, pay attention to the governors. >> who is they? this is so much noise. a bunch of people -- ryan schaeffers is trying to act busy. all this is hot-air nonsense. that person will be the brand. that's who you ride to hopefully to victory. >> chip, you agree with that? >> i spent my afternoon reading the 100-page report. to thine own self be true as a party. knee need to get back to the basics. the leadership has always been in the states. it's been those governors. they are doing less with more, balancing budgets without tax increases and dealing with pretty tough issues. they are doing it on a state by state issue. >> free enterprise, smaller government, more inclusive, is that fair? let's get right to it. the key point in this whole document, maybe there are two, but one key point is immigration

reform. that's the key point. i don't want due process. that's the key point. can the gop change its stripes on immigration reform? can they? >> i think there is a way to do it. talking about the governors, they are dealing with immigration reform or back of immigration reform every day because it's the states having to pay for illegal immigrations to go to school. their health care. they are dealing with it every day. the lack of anything at the federal institution is crazy. the federal government should protect our borders and make immigration legal to deal with these people. the governors are cleaning up the mess. >> can the gop clean up the hispanic/latino mess? >> it's a real problem. the one theme is that the gop is seen for better or worse as a party from, this is a quote from the report, stuffy old men, out of stuff with middle class

mainstream concerns. it needs to be more inclusive if it's going to maintain its relevancy. >> you just did a false branding thing saying it's stuffy old men. there are a lot of young, lovely engaging young women in the party. >> this is more than a branding challenge. >> what about kelly? the party is very strong. i don't like reports like this. you know why? it's all generalized hot air. they want to have fewer primaries and fewer debates. i don't like that either. that means good night with the most money can win the thing. >> or the loudest voice. you can't ride over what you said. that was a branding statement. i say that respectfully. we had a nice conversation in the greenroom. to allow people to say republicans are a bunch of old white men.

>> i said stuffy old men, actually. this is the head of the republican party saying this. >> that's why the document should be shredded. >> this is 100-page identity crisis for the republican party. >> let me ask you a tougher question. this business about gay rights, gay marriage. i think the republican party is moving in a more enlightened way is the word i'm going to use. there are differences on opinions and morality. what should the gop do? one last point. they believe the youth vote is in favor of gay marriage. >> they are. if you're under 40 it's not an issue for you. they think it should be done. what is challenging for us, the older the party is, the more they think it should not be

allowed. there are people who would be okay with a union or partnership agreement. if you didn't have a long relationship you can't see the person you love the most in the hospital or rights like that. this is a real challenge. at the base of the party it is a religious issue or moral issue. >> as campaign marriage of a former governor and presidential candidate, do you see that? >> no. i think at the end of the day for me, marriage is defined not only between a man and woman but a religious issue. i think that's where the base is. >> it's a moral issue of people who support it. >> religious and moral issue. there is movement. new york, for example, republicans contributed to passing a guy marriage law. just a question. >> one second. the important point here, pardon me. when there is a great strong brand, a party or corporation gets behind the brand. liberals are split over drones. they just don't talk about it.

republicans are about guy marriage but they don't talk about it. in a company, ie a party, when you have a brand, you get behind a brand. some person can't say i don't believe in those product attributes. the debate has to end. that's why the product has to be a central piece. >> this is a set of values, not a product. >> our party is executive base party. in lieu of a president we have hundreds of people in charge. senators and congressmen in charge. the democrats had this problem when the democrats don't have a president. everybody is talking about different issues. what you're talking about is right. when the republicans have a president, they follow the leader. i think that's why you're seeing success of governors in the state. they've the boss. >> right now president obama has the whip hand and he's the executive. he's using it more effective than i've seen in the past.

regarding governors, the thing i don't like about this is shorter primary process and fewer debates. i couldn't like that because i want everyone to have a shot at this. if you can't raise that money right upfront, you should still have a shot. nobody thought barack obama could beat hillary clinton and he did. we had a lot of debates about this one. it wasn't romney. he outlasted everybody. i think that process issue is important. last question. what about old fashioned free enterprise? free markets? lower tax rates? limited government. does that not play any more? >> it does, but the sides chose on that. it's the 10 million undecided. they vote for the brand they think is better looking or speaks better. he's a terrible president but

amazing brand. >> he's a great speaker. you get him from the teleprompter, it changes. he isn't a great president, but very effective communicator. >> i've got to get out of here. what could be the most intriguing part of this cyprus bailout story? russia's huge money-laundering in the cyprus banks. vladimir putin is angry. we are about to talk to an expert next. putin may be the key to cyprus. (announcer) scottrade knows our clients trade

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almost almost 40% of deposits in cyprus banks belong to foreigners, many who are russians. yes, even the russian mob. robert frank here with the fallout. >> cyprus is not a tax haven for russia. it is the tax haven for russian billionaires and millionaires. russia investment is five times the total economic output for pi cyprus and they account for

about 1/3 of the total. one is the fertilizer magnate who is the biggest holder. he bought donald trump's $100 million estate in palm beach and his daughtered because sandy weill's $80 million condo in new york. why did they buy it when they knew the banks in trouble? there are fewer other choices. governments around the world are cracking down on tax evasions. switzerland, monaco and singapore are complying with the tax rules. cyprus may be the option for the russian rich. thank you. despite billions in russian cash, the country's government has long denied it's a russian dirty laundry haven.

ken ruock is a convicted money launderer and author of the book "the money launderer." >> remember, while cyprus is part of the eu, geographically it's right next door to the russian markets. it's there but not there. it's their entry into the european union and global markets. it's not in russia where you have issues of the safety of deposits. it's a great place to take your profits in an offshore financial center and thereby not incurring tax liability in russia and not transparent. you can disguise your ownership. the beneficial ownership never shows up. >> fine. what happens if this deposit tax goes to 20% which it may?

new developments this afternoon. that's much higher than the russian corporate tax and the cyprus corporation tax. what happens then? >> larry, it's a bigger issue than that. because it's all about transparency. if the european central bank gets its hands on records in the republic of cyprus, all these little stories and hidden basic constructs will all become transparent. it's all about uncovering billions of dollars in dirty money. >> how will they do that? what i'm asking is, haven't the banks shielded the russians from all this? russian parks goods there. they send them off to iran and syria and other rogue states. money has never been a problem. cyprus has never reported them. why start now? >> they are going to be under a lot of pressure. they'll be under the ecb gun and have to clean up their act.

as an absolute spin-off from that, they are going to have to be more transparent. it's going to happen. they can't do that. cyprus is their last vestage of offshore financial centers. they are all signing contracts with the u.s. and uk and germany. the only alternative they have to go all the way to the far east to find an offshore financial center that will work for them. that is geographically undesirable. they need to get financial professionals just a couple of hundred miles away from them and fly cash in. >> dirty money, chip, cayman islands, played a big role in this last election. team obama hurt team romney quite a bit on this. what about getting rid of all these offshore tax dodge havens? >> it's the right thing to do.

as we learned during the campaign, governor romney had investments on cayman islands. from a political point of view, it's a terrible issue. from an american point of view, it's a terrible issue. have your money here and let it work for new our country to benefit our people, as well. >> a whole lot of people, including the new treasury secretary had money in offshore places. >> there are a lot who think it's unpatriotic to have this kind of cash in the cayman islands. it's not helping the american economy here. we've got the cayman islands, swiss bank accounts. nobody hurd of the cyprus banks. this came out of left field. >> most people thought it was a pretty tree. >> according to stuff i read, putin and russia is willing to loan cyprus $2.5 million. that's hush money, is it not?

>> that's basically right, larry. what they were doing is trying to ensure there is not interference with the ecb. it won't just be the european central bank. the countries with more solvent economies will take a bigger interest in cyprus. it will be much more transparent situation and the russians cannot suffer that. >> if the worst comes and cyprus is taken over by the ecb, there are three banks or so, what does putin do? where do they put their money? >> you want to go -- let's go to a place where the united states or eu has no influence. >> name one. >> ever been to hong kong? hong kong, singapore. >> you think singapore -- this is interesting, will singapore welcome all this dirty money laundering stuff from russia? >> it's taken money from myanmar and north korea.

what is the difference? >> there is a difference between sing more and north korea. singapore is a rather clean country when it comes to banking. they'll throw you in jail in a nano second. i don't know what putin will do or his dirty money launders if they get thrown out of cyprus. >> he'll find more obscure and newer tax haven you and i have never read about that's just been formed in the last six months formed by enterprising lawyers and use that. >> i think you're describing wall street. that was just a joke. senator elizabeth warren wants to boost minimum wage. listen to this insanity. >> if we started in 1960 and we said that as productivity goes up, that is as producers are working more, minimum wage will

go up the same. if that were the case, minimum wage today would be about $22 an hour. so my question, with a minimum wage of $7.25 an hour, what happened to the other $14.75? [ male announcer ] with free package pickup from the united states postal service a small jam maker can ship like a big business. just go online to pay, print and have your packages picked up for free. we'll do the rest. ♪

about about a month ago, even with black teenage unemployment at 43%, president obama still

proposed a 24% hike in minimum wage at $9 an hour. black unemployment will get worse with this legislation in what should be a free labor market. elizabeth warren suggested raising the minimum wage to $22 an hour. will minimum wage clobber main street? i think it's goi goi to clobber the, shall we say, underprivileged. mark hanna, you probably love this stuff. why stop at $22? it's clear elizabeth warren is a lawyer, not a mathematician. why not give minimum wage at $500? >> why not make it $5 or $2, why not get rid of minimum wage all together. >> why not have the market set the price of labor. >> and with this kind of unemployment where employers can

hire cheap, cheap labor and pay them $5, they'll work for $5. unemployment tied to minimum wage, if you look historically from the 1960s, 1980s, any time we increased the minimum wage, we also increased the employment rate in this country. you look at it right now, states like vermont -- >> i don't know about that. here is what i know. overall the unemployment rate is 7.7%. black unemployment 13.8%. black teenage unemployment 43.1%. all teenage unemployment, the majority whom are whites, all teenage unemployment meaning low-skilled are 25.1%. i maintain you raise the minimum wage above the market price for the lower-skilled people and you can't get a job. >> they hired less people when the minimum wage goes up. nothing says economic recovery like sending the minimum wage up to $22.

the one thing that screamed to me, we need more legislators who signed the front of the paycheck not the back. these are the mom and pops, back bone of this economy that live and die by hundreds of dollars a week. the good employees stay and make more money because they want to reward that. this punishes it. they don't need washington. >> there is an economic argument and moral argument. capitalist economy is based on production and consumption. you need workers to have enough disposable income to go out and buy the products. this is the henry ford argument. >> you need businesses that are profitable. the reason henry ford raised his own minimum wage by $5 is fords were making a lot of money. the problem today is, business won't even spend the money they've got. they are worried about this kind of government interference. you can't not tell me if you

want a $22 minimum wage, currently minimum wage is $7.25. you're going to raise unemployment because these teenagers will never get a job. their skills aren't worth it. >> 90% of people making minimum wage are 20 years older and above. this isn't affecting teenagers. >> if they are unskilled, why pay for it? >> massachusetts and vermont have lower unemployment rates. look at arizona that have low minimum wage. they have the highest unemployment rates. the facts don't stack up for this argument. >> there are some people think government should make those decisions and some people, maybe the local owner of an autoship dealer should set the price. >> really? >> look at the national numbers. >> get to the moral argument.

>> let me go back to this point. these kids, half can't get into college. half can't get into community college. they've got to work. if you stick them with a high minimum wage, business won't take, they will never get a job. >> we are not talking about kids though. >> that is the moral argument here. it's no different in your early 20s. we've got to go. that's it for tonight's show. thanks for watching. i'm still after those dirty russian money launderers. see you tomorrow night. perations? it's not working! yes it is. welcome to tyco integrated security. with world-class monitoring centers and thousands of qualified technicians. we've got a personal passion to help your business run safer, smarter, and sharper. we are tyco integrated security.